Yes, that would be a good starter compressor for occasional use on a budget. If you have capacity concerns look up the air consumption of the largest air tool you want to power and compare it to the SCFM the compressor can deliver at those pressures.
I've had a similar horizontal 25 gallon 7.0 SCFM@90psi oil-less Craftsman compressor for about 20 years. It's OK for occasioanl use and should be fine for the uses you described. It's OK for painting building exteriors, filling tires, blowing dirt out of radiators and running smaller air tools like the ones included with the compressor. Look up the price of the included tools and the compressor as seperate items to get an idea if the bundle is priced reasonably.
Be aware that oil-less compressors are much much louder than a lubed compressor, as loud as many diesel tractors under full load (90 to 100 decibles?). If it will cycle a lot I prefer to wheel it around a corner so it is only 1/4 as loud. A 50 foot long, 3/8 inch ID air line has been adequate for me so far. That would be too small for regular full-time shop use.
My compressor will trip most 15 amp circuit breakers, if not on empty start-up it will trip them on re-start under pressure. I keep it on 20 amp circuits and have no problems even when using extension cords.
The 500 hour life is plenty for most people. If you intend to use it for several hours every week or to use it for painting vehicles, then get a commercial duty oil lubed compressor.
The pressure regulator is the weak point on mine, it's plastic and I've replaced it twice, the second time with an off-the-shelf metal regulator.
Compare prices of oil-less compressors and lubed compressors of the same capacity, and then check your local Craigs List for resale prices. If this unit turns out to be too small for you after several years you should still be able to keep the air tools and resell just the compressor for $100 to $150.